Repayment Options

You have flexible options to repay your student loanyouth repayment2

Once you leave your studies, the Student Aid Alberta Service Centre and the National Student Loan Service Centre will contact you to start repayment.

Most student aid recipients receive both Alberta and Canada student loans, meaning
two separate loans need to be repaid.

Keeping up with your student loan payments is important. It gives you good credit standing with banks, and has a positive impact on your credit rating overall.  Options are available to help you develop a payment plan that works best for you.

Access your student loans online!

Change the terms of your loan

You can adjust the terms of your loans with Student Aid Alberta Service Centre and the National Student Loan Service Centre to make your payments work for you.   You can easily change the payment due date to match when you get paid, increase your loan payment to pay your student loans off early, or lower your monthly  payments to help make ends meet. Develop a plan that works best for you.

Repayment Assistance Plan (RAP)

The Repayment Assistance Plan, available for both Alberta and Canada student loans makes sure your monthly payment is in sync with your income and family size. You can apply anytime during your repayment term.

If you qualify, a reduced monthly payment will be set for six months, based on your income. Depending on your situation, you may not need to make a payment at all for some months until your situation changes.

Completing one RAP application will ensure you are considered for benefits on both your Canada and Alberta student loans. If you meet the program criteria and would like to apply, contact the Student Aid Alberta Service Centre  or visit NSLSC Online Services to get started. You may also access the Repayment Assistance Plan Application.

You could be eligible for RAP if:

  • you are currently repaying an Alberta or Canada student loan
  • your monthly payment amount is not in sync with your income or family size.  Use the Repayment Assistance Plan Estimator to see if you might be eligible. 
  • your student loans are in good standing

For Canada student loans, you must also be living in Canada.  If you are behind on your payments, you can ask for a reduced payment to be back dated for up to 6 months.  You can also ask to capitalize your interest charges by 3 months in order to help keep your loans in good standing.